Indian stock markets face a bustling session as investors track the GST Council’s 57th meeting and a slew of corporate updates, including quarterly results, fund-raising plans, and project wins across key sectors such as pharmaceuticals, FMCG, and telecoms.
Indian equities are set for a busy session on Thursday, with investors tracking the GST Council’s 57th meeting as well as a string of corporate updates spanning results, fund-raising plans, contract wins and project announcements. Sectors such as pharmaceuticals, fast-moving consumer goods and telecoms are expected to remain in focus as policy watchers look for any signals on tax rates or compliance changes.
Among the more closely watched names is Tata Consultancy Services, which is due to report second-quarter results after market close. TCS is India’s largest IT services company by revenue, and its quarterly numbers often set the tone for the broader technology sector. In its previous September-quarter report, the company posted revenue of $7.210 billion, up 4.8% year on year, while net income rose 5.6% to $1.37 billion, according to a company statement. Business Standard reported at the time that net profit climbed 8.7% to ₹11,342 crore and revenue rose 7.9% to ₹59,692 crore, with the company also announcing a ₹17,000 crore buyback and a dividend of ₹9 per share.
Corporate activity elsewhere was also driving attention. Ola Electric Mobility’s board approved terms for a ₹1,000 crore rights issue, offering 37.02 crore shares at ₹27 each, a 25.6% discount to the issue price, with the record date set for October 13 and the issue open from October 22 to October 30. Vedanta said its board will consider its first interim dividend for FY27. Evonile Pharma, formerly Novartis India, is weighing a rights issue at its board meeting. TD Power Systems has opened its qualified institutional placement, with a floor price of ₹775.35 a share and an indicative issue size of ₹600 crore.
Quarterly business updates and project wins were also in the spotlight. Jubilant FoodWorks reported consolidated revenue growth of 11.9% to about ₹2,609 crore in the September quarter, while Senco Gold said total revenue rose 31% and same-store sales growth reached 19%. PC Jeweller, which remains under a trading ban, reported 28% growth in consolidated revenue. In the logistics and ports space, Gujarat Pipavav handled 192,000 twenty-foot equivalent units in the second quarter, while Allcargo Terminals reported a 7% decline in September volumes. Torrent Power’s subsidiary cancelled a 300 MW wind power purchase agreement with the Solar Energy Corporation of India after delays linked to external infrastructure, and Tata Power said it has teamed up with Norway’s Ocean Sun on a 300 kWp floating solar pilot at its Mulshi reservoir in Maharashtra.
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